Operation: Executive Directorate

1. The Executive Director will be designated by the Board and may be removed from his duties at any time by a well-founded decision of two thirds of the Board members present or represented. A Foundation Board Member may hold the position, in which case, their termination as a board member will imply termination as the Executive Director.

2. The Executive Director, who may hold this position simultaneously with the position of Secretary of the Plenary Board, is responsible for the administrative management, organisation of services and the execution of agreements of the Governing Board and the Board. The following duties are specifically assigned to them:

a)Managing everything necessary for the proper conduct of specific activities approved by the decision-making bodies, and requesting, if applicable, necessary authorisations or specific delegation approvals in order to formalise all types of public or private documents that must be issued.

b) Organizing services, distributing the work, proposing the appointment and dismissal of personnel, as well as their compensation to the Board. Due to their position as Head of Personnel, the Executive Director may impose penalties for minor violations; in imposing the applicable penalties, they must comply with applicable labour law.

c) Representing the Foundation in or outside of court with prior approval of the Governing Board.

d) Organising and directing the Foundation’s overall accounting, either principal or auxiliary, bringing it into compliance with current legislation, in particular with tax provisions; preparing the action plan and ordinary and extraordinary budgets, and preparing statistics necessary to create the corresponding annual financial and management report.

e) Ordering payments for current expenses foreseen, such as those included in budgets and those foreseen by the Governing Board or the Board in approving each action.

f) Submitting project proposals and budgets for investment in new service facilities of any kind or for the renovation of existing facilities.

g) Submitting scientific research projects and programmes, with their budget, for approval to the Governing Board or the Board, (as applicable,) as well as any agreements and contracts that may be deemed necessary to carry them out.

The duties assigned specifically to the Executive Director are understood to be without prejudice to any that may be conferred upon him by special power of attorney.